[PA Engineer]

The investors in Air America Radio, the liberal talk radio network that launched in March, are restructuring the company to free it of any obligations incurred by ousted chairman and founding investor Evan Cohen.

Is this just a nice way of saying they are going to declare bankruptcy?

[rod1]

You got it--their insolvent-- at least until they run and hide from creditors.

[Steven W.]

Is this just a nice way of saying they are going to declare bankruptcy?

exactly my sentiment in reading the first paragraph - you can't restructure without first declaring bankruptcy.